California Public Employees’ Retirement System Flushes Fortune Down Green Energy
Green energy moonbattery is not the best investment:
The California Public Employees’ Retirement System for state employees lost 71% of its $468 million investment in a clean energy and technology private equity fund, state records show, but CalPERS won’t explain how.
Don’t worry, retirees; California taxpayers will pick up the tab.
CalPERS says its pension benefits are only 79% funded, leaving the state, and its taxpayers, on the hook for the other 21%. According to a recent report from Reason Foundation, CalPERS’ pension shortfall is approximately $180 billion.
The 71% loss comes to over $330 million…
…for which private equity firms were paid at least $22 million in fees and costs.
CalPERS has not been forthcoming regarding specifics of how it flushed away the money.
Had the money put into the [CalPERS Clean Energy & Technology Fund] been passively invested in an S&P 500 index fund, with dividends reinvested, the fund would have been worth approximately $3 billion.
But that would not have saved a planet imperiled by the alleged menace of anthropogenic global warming.
The Obama legacy endures in California, which continues his policy of wasting vast amounts of taxpayer money on green energy boondoggles, possibly to launder it on behalf of those with a seat at the table.
On a tip from Steve T. Hat tip: Pirate’s Cove.
The post California Public Employees’ Retirement System Flushes Fortune Down Green Energy appeared first on Moonbattery.
Source: https://moonbattery.com/california-public-employees-retirement-system-flushes-fortune-down-green-energy/
Anyone can join.
Anyone can contribute.
Anyone can become informed about their world.
"United We Stand" Click Here To Create Your Personal Citizen Journalist Account Today, Be Sure To Invite Your Friends.
Before It’s News® is a community of individuals who report on what’s going on around them, from all around the world. Anyone can join. Anyone can contribute. Anyone can become informed about their world. "United We Stand" Click Here To Create Your Personal Citizen Journalist Account Today, Be Sure To Invite Your Friends.
LION'S MANE PRODUCT
Try Our Lion’s Mane WHOLE MIND Nootropic Blend 60 Capsules
Mushrooms are having a moment. One fabulous fungus in particular, lion’s mane, may help improve memory, depression and anxiety symptoms. They are also an excellent source of nutrients that show promise as a therapy for dementia, and other neurodegenerative diseases. If you’re living with anxiety or depression, you may be curious about all the therapy options out there — including the natural ones.Our Lion’s Mane WHOLE MIND Nootropic Blend has been formulated to utilize the potency of Lion’s mane but also include the benefits of four other Highly Beneficial Mushrooms. Synergistically, they work together to Build your health through improving cognitive function and immunity regardless of your age. Our Nootropic not only improves your Cognitive Function and Activates your Immune System, but it benefits growth of Essential Gut Flora, further enhancing your Vitality.
Our Formula includes: Lion’s Mane Mushrooms which Increase Brain Power through nerve growth, lessen anxiety, reduce depression, and improve concentration. Its an excellent adaptogen, promotes sleep and improves immunity. Shiitake Mushrooms which Fight cancer cells and infectious disease, boost the immune system, promotes brain function, and serves as a source of B vitamins. Maitake Mushrooms which regulate blood sugar levels of diabetics, reduce hypertension and boosts the immune system. Reishi Mushrooms which Fight inflammation, liver disease, fatigue, tumor growth and cancer. They Improve skin disorders and soothes digestive problems, stomach ulcers and leaky gut syndrome. Chaga Mushrooms which have anti-aging effects, boost immune function, improve stamina and athletic performance, even act as a natural aphrodisiac, fighting diabetes and improving liver function. Try Our Lion’s Mane WHOLE MIND Nootropic Blend 60 Capsules Today. Be 100% Satisfied or Receive a Full Money Back Guarantee. Order Yours Today by Following This Link.
| Visits: | 1,743,116,432 |
| Stories: | 8,522,620 |
Whistler Blowers, Insiders
